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| Provider | Service type | Compensation |
|---|---|---|
ALERUS FINANCIAL, N.A.5 years Service code 15 · EIN 45-6062081 | Recordkeeping | $41,704 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,095 | $73,459-84.9% | $178,528-93.8% | $74,429-85.1% |
| Participation rate | 92.6% | 66.5%+26.1pp | 77.1%+15.5pp | 67.2%+25.4pp |
| Annual return | 12.34% | 17.50%-5.2pp | 27.11%-14.8pp | 1368.38%-1356.0pp |
| Employer contribution / active EE | $795 | $2,219-64.2% | $3,950-79.9% | $2,625-69.7% |
| Participant deferral / active EE | $2,503 | $4,515-44.6% | $6,278-60.1% | $4,348-42.4% |
| Admin fee / account holder | $262 | $1,812-85.5% | $10,419-97.5% | $1,944-86.5% |